NY General Adjuster Test (10-70)
UPDATED ACTUAL Exam Questions and
CORRECT Answers
12/1 - even numbered yrs - CORRECT ANSWER On what date does an adjuster's license
need to be renewed?
$1,000 - CORRECT ANSWER What is the amount of bond that must be posted to obtain and
adjuster's license?
Not until hearing held - CORRECT ANSWER When can the Superintendent of Insurance
revoke an adjuster's license?
a. anytime b. by sending a 30 day notice of the renovation c. not until a hearing is held d. When
proof of offense has been received
Example of unfair claim settlement act - CORRECT ANSWER Failing to acknowledge
within a reasonable time, communications w/ respect to claims arising out of the insurer's
policies
An ins regulatory official such as Superintendent of Insurance - CORRECT ANSWER If
found guilty of Fed Insurance fraud, who can permit a guilty individual to return to the insurance
business?
a. federal official b. no one since this is federal offense c.an ins regulatory official i.e. Super of
Ins d. only court of law after proper hearing
To provide some form of compulsory insurance - CORRECT ANSWER What is the reason
for the NY financial responsibility law?
Is a mandatory coverage - CORRECT ANSWER In NY must uninsured motorist coverage: a.
is optional b. mandatory c. doesn't require sign off for > limits d. doesn't cover "hit & run"
drivers
,The insured's property damage coverage - CORRECT ANSWER Damage to a rental car is
paid in NY under which of the following coverages: a. insured's physical damage b. property
damage covg c. special endorsement d. must be purchased from rental agency
Who must belong to the assigned risk plan? - CORRECT ANSWER All admitted auto
insurers selling auto insurance in NY
Covers the employer when the employee is using their vehicle on company business. -
CORRECT ANSWER What does the employer's non-ownership coverage cover?Covers the
employer when the employee is using their vehicle on company business.
Pain & Suffering - CORRECT ANSWER Which is not covered under worker's comp
coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses
The court - CORRECT ANSWER Who makes a declaratory judgment as to the merits of a
claim?
a. claims adj b. insurer attorney c. court d. claimants attorney
Vicarious - CORRECT ANSWER What type of liability does an employer assume through
their employees? a. primary b. contingent c. vicarious d. no fault
The insuring agreement - CORRECT ANSWER What part of the policy contains the promises
made by the insurance company to the insured? a. conditions clause b. definitions c. exceptions
to exclusions d. insuring agreement
At the time of the loss - CORRECT ANSWER In property & casualty insurance, when must a
person absolutely have an insurable interest? a. time of app completion b. time of loss c. at any
time d. insuring agreement
, Definition of consideration - CORRECT ANSWER Something that has value in the eyes of
the law in which a promise receives something in return for a promise
Aleatory - CORRECT ANSWER The promise by one party that is conditioned on a fortuitous
event and the values given by the parties are unequal is called?
a. executory b. aleatory c. speculation d. a static risk
Violent act that is dangerous to human life and property - CORRECT ANSWER What
constitutes an act of terrorism
Losses over $5,000,000 - CORRECT ANSWER How much property and casualty los must be
sustained to be considered an act of terrorism to be covered by the Terrorism Risk Insurance Act
of 2002
Act of terrorism & covered under Terrorism Risk Act of 2002, act must be committed by? -
CORRECT ANSWER Individual(s) acting on behalf of any foreign person or interest in an
effort to coerce the civilian pop. of USA
A friend helping insured lay carpet - CORRECT ANSWER Who would be covered under
homeowner med payments?
a. friend helping insured lay carpet b. foreign exchange student living w/ insured c. tenant of
insured's residence d. son of insured bitten by family dog
Homeowner policy - CORRECT ANSWER Which personal insurance policy covers w/out
endorsement, both personal property & personal liability coverages?
a. DP-3 form b. personal articles floater c. homeowner policy d. personal property floater
An abrupt falling down or caving in of the structure - CORRECT ANSWER Under new 2000
homeowner forms, what is definition of collapse?
UPDATED ACTUAL Exam Questions and
CORRECT Answers
12/1 - even numbered yrs - CORRECT ANSWER On what date does an adjuster's license
need to be renewed?
$1,000 - CORRECT ANSWER What is the amount of bond that must be posted to obtain and
adjuster's license?
Not until hearing held - CORRECT ANSWER When can the Superintendent of Insurance
revoke an adjuster's license?
a. anytime b. by sending a 30 day notice of the renovation c. not until a hearing is held d. When
proof of offense has been received
Example of unfair claim settlement act - CORRECT ANSWER Failing to acknowledge
within a reasonable time, communications w/ respect to claims arising out of the insurer's
policies
An ins regulatory official such as Superintendent of Insurance - CORRECT ANSWER If
found guilty of Fed Insurance fraud, who can permit a guilty individual to return to the insurance
business?
a. federal official b. no one since this is federal offense c.an ins regulatory official i.e. Super of
Ins d. only court of law after proper hearing
To provide some form of compulsory insurance - CORRECT ANSWER What is the reason
for the NY financial responsibility law?
Is a mandatory coverage - CORRECT ANSWER In NY must uninsured motorist coverage: a.
is optional b. mandatory c. doesn't require sign off for > limits d. doesn't cover "hit & run"
drivers
,The insured's property damage coverage - CORRECT ANSWER Damage to a rental car is
paid in NY under which of the following coverages: a. insured's physical damage b. property
damage covg c. special endorsement d. must be purchased from rental agency
Who must belong to the assigned risk plan? - CORRECT ANSWER All admitted auto
insurers selling auto insurance in NY
Covers the employer when the employee is using their vehicle on company business. -
CORRECT ANSWER What does the employer's non-ownership coverage cover?Covers the
employer when the employee is using their vehicle on company business.
Pain & Suffering - CORRECT ANSWER Which is not covered under worker's comp
coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses
The court - CORRECT ANSWER Who makes a declaratory judgment as to the merits of a
claim?
a. claims adj b. insurer attorney c. court d. claimants attorney
Vicarious - CORRECT ANSWER What type of liability does an employer assume through
their employees? a. primary b. contingent c. vicarious d. no fault
The insuring agreement - CORRECT ANSWER What part of the policy contains the promises
made by the insurance company to the insured? a. conditions clause b. definitions c. exceptions
to exclusions d. insuring agreement
At the time of the loss - CORRECT ANSWER In property & casualty insurance, when must a
person absolutely have an insurable interest? a. time of app completion b. time of loss c. at any
time d. insuring agreement
, Definition of consideration - CORRECT ANSWER Something that has value in the eyes of
the law in which a promise receives something in return for a promise
Aleatory - CORRECT ANSWER The promise by one party that is conditioned on a fortuitous
event and the values given by the parties are unequal is called?
a. executory b. aleatory c. speculation d. a static risk
Violent act that is dangerous to human life and property - CORRECT ANSWER What
constitutes an act of terrorism
Losses over $5,000,000 - CORRECT ANSWER How much property and casualty los must be
sustained to be considered an act of terrorism to be covered by the Terrorism Risk Insurance Act
of 2002
Act of terrorism & covered under Terrorism Risk Act of 2002, act must be committed by? -
CORRECT ANSWER Individual(s) acting on behalf of any foreign person or interest in an
effort to coerce the civilian pop. of USA
A friend helping insured lay carpet - CORRECT ANSWER Who would be covered under
homeowner med payments?
a. friend helping insured lay carpet b. foreign exchange student living w/ insured c. tenant of
insured's residence d. son of insured bitten by family dog
Homeowner policy - CORRECT ANSWER Which personal insurance policy covers w/out
endorsement, both personal property & personal liability coverages?
a. DP-3 form b. personal articles floater c. homeowner policy d. personal property floater
An abrupt falling down or caving in of the structure - CORRECT ANSWER Under new 2000
homeowner forms, what is definition of collapse?
